ETH 3980 Long and Short Trend Line, the monthly line is about to close, which side are you preparing to stand on tonight?

First, let's look at the daily chart. The price of ETH has regained support at the lower edge of the triangular consolidation and is maintaining an overall downward oscillation structure. Currently, it is essential to focus on the breakthrough of the 3980 mid-track pressure level, which serves as a dividing line between bulls and bears. A breakthrough here will sequentially test the two critical resistances at 4050 (the neckline of the W-bottom) and 4270 (the upper edge of the channel). If it loses the support at the lower edge of the triangle again, the downward space will open, targeting the lower edge of the channel at 3580 and the previous low at 3380.

Next, looking at the four-hour level, the short-term structure is repeatedly contested near the lower edge of the triangle, and the MACD indicator shows that the bullish and bearish momentum is in a balanced state. The upper resistance zone of 3980-4050 serves as a touchstone for rebounds, and only an effective breakout can reverse the current weak pattern. The focus on the lower support is the defensive strength of the triangle's lower edge, and if it is breached, it will confirm the establishment of a downward continuation pattern.

Intraday trading suggestions:
Short-term buy near 3550-3600, target 3950-4000
Short position near 3990-4030, target 3900-3850#参与创作者认证计划月领$10,000